Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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NCLAT allowed the appeal filed by the Liquidator of the corporate debtor and set aside the NCLT order rejecting dissolution. NCLAT held that NCLT committed a patent error in presuming the Income Tax Department to be a secured creditor and in mechanically relying on precedents that had already been distinguished on facts. The record showed that notice had been duly served on the Income Tax Department, but no appearance was entered, and its counsel had earlier stated that no charge existed over the corporate debtor's assets and that Rainbow Papers was inapplicable. NCLAT remanded the matter to NCLT with a direction to pass an order of dissolution of the corporate debtor in accordance with law.
NCLAT allowed the appeal filed by the Liquidator of the corporate debtor and set aside the NCLT order rejecting dissolution. NCLAT held that NCLT committed a patent error in presuming the Income Tax Department to be a secured creditor and in mechanically relying on precedents that had already been distinguished on facts. The record showed that notice had been duly served on the Income Tax Department, but no appearance was entered, and its counsel had earlier stated that no charge existed over the corporate debtor's assets and that Rainbow Papers was inapplicable. NCLAT remanded the matter to NCLT with a direction to pass an order of dissolution of the corporate debtor in accordance with law.
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